FLIR Systems has reached a definitive asset purchase agreement to acquire the business of Point Grey Research, a Canadian developer of machine vision cameras for use in military and defence, industrial, retail, scientific and other advanced imaging applications, for approximately $253 million in cash.
Point Grey, which was founded in 1997 and is based in Richmond, British Columbia, designs, manufactures and distributes its cameras and related software to a global base of customers that build systems for improving the efficiency, quality, analysis and safety of a wide range of processes and products.
The addition of the Point Grey business will augment FLIR’s existing OEM cores and components business by adding a broad range of visible spectrum machine vision cameras and solutions. The business will become FLIR’s Integrated Imaging Solutions line of business operating within the OEM and Emerging segment.
The transaction is expected to be completed in the fourth quarter of 2016.
“We’re excited to add the broad range of innovative products from Point Grey to FLIR as together we have a unique capability to create advanced sensing solutions for the broad machine vision market,” said Andy Teich, President and CEO of FLIR. “Thermal imaging technology provides vision systems customers an alternative imaging spectrum that offers a rich, largely untapped layer of information that can be further leveraged. Point Grey’s global presence and credibility in industrial vision systems provides a strong platform for us to integrate our leading thermal technology.”
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Mark Lane is a defence writer for defenceonline.co.uk and the MoD’s Defence Contracts Bulletin. He is also editor of Global Trader, sub-editor of Insider Scotland and a former editor of Business Today.
Canada FLIR Innovation International Point Grey technology
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